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Select Legislative Instrument No. 153, 2013 I, Quentin Bryce AC CVO, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Corporations (Fees) Act 2001. Dated 28 June 2013 Quentin Bryce Governor‑General By Her Excellency’s Command William Richard Shorten Minister for Financial Services and Superannuation

1 Name of regulation This regulation is the Corporations (Fees) Amendment Regulation 2013 (No. 1). 2 Commencement This regulation commences on 1 July 2013. 3 Authority This regulation is made under the Corporations (Fees) Act 2001. 4 Schedule(s) Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms. Schedule 1—Amendments

Corporations (Fees) Regulations 2001 1 Paragraph 8(1)(a) Omit “$9 375”, substitute:“$8 735” 2 Paragraph 8(5)(a) Omit “$386 000”, substitute:“$344 670” 3 After subregulation 8(6) Insert: FEX Global (6A) For subsection 6A(1) of the Act, if ASIC performs its functions under Part 7.2A (Supervision of financial markets) of the Corporations Act in relation to the financial market operated by FEX Global Pty Ltd during a billing period: (a) the fee for the initial billing period is worked out by: (i) multiplying $49 930 by the number of days in the period starting on the day on which ASIC first performs its functions and ending at the end of the billing period; and (ii) dividing the result by 92; and (iii) rounding the result down to the nearest whole dollar; and (b) the fee for a subsequent billing period is $49 930; and (c) the fee is not imposed again if ASIC performs its functions during the billing period in relation to another market operated under the same Australian market licence (within the meaning of section 761A of the Corporations Act). (6B) For subparagraph 7(1)(m)(ii) of the Act, the time at which the liability for the fee is incurred is the first day after the billing period in which ASIC performs its functions. 4 Paragraph 8(7)(a) (formula) Repeal the formula, substitute:

8 After subregulation 8(9) Insert: (9A) Despite subregulation (9), if a payment (the FIDA payment) is made to ASIC from the Financial Industry Development Account in the National Guarantee Fund, and relates to ASIC’s performance of its functions described in subregulation (9) during a financial year: (a) ASIC must, as soon as practicable, reduce the figures of 1 977 125 and 1 985 125 in the formula in subregulation (9), having regard to: (i) the amount of the FIDA payment; and (ii) any other matters that ASIC considers relevant; and (b) for subsection 6A(1) of the Act, the amount of a fee that has already been paid during that financial year, by reference to that formula, is taken to be reduced to the amount calculated using that formula with the reduced figures; and (c) for subsection 6A(1) of the Act, the amount of a fee that: (i) has not yet been paid during that financial year; and (ii) would be paid by reference to subregulation (9); is the amount calculated using that formula with the reduced figures. 9 Subregulation 8(11) (definition of billing period) Repeal the definition, substitute: billing period means any of the following periods: (a) the period starting when this regulation commences and ending on 30 September 2013; (b) a period of 3 months starting on 1 October 2013, 1 January 2014, 1 April 2014, 1 July 2014, 1 October 2014, 1 January 2015 or 1 April 2015. 10 Subregulation 8(11) (after the definition of exempt market) Insert: initial billing period, in relation to a financial market, means the billing period during which the market began operating. 11 Subregulation 8(11) (subparagraphs (a)(iv) and (v) of the definition of small financial market) Repeal the subparagraphs, substitute: (iv) the financial market operated by FEX Global Pty Ltd; or (v) an exempt market; or (vi) a wholesale financial market; 12 Regulation 9 Repeal the regulation, substitute: 9 Market integrity functions—penalty fee for late payment of fees (1) This regulation applies if a person has not paid one or more fees prescribed in regulation 8 (the market integrity fees), which the person is liable to pay, by the end of the billing period in which they were incurred (the overdue time). (2) For paragraph 6A(1)(b) of the Act: (a) a penalty fee for late payment of the market integrity fees is prescribed in relation to the performance by ASIC of its functions under Part 7.2A (Supervision of financial markets) of the Corporations Act; and (b) the penalty fee is additional to the market integrity fees. (3) For subparagraphs 7(1)(m)(ii) and (n)(ii) of the Act, the time at which liability for the penalty fee is incurred is the overdue time. (4) The amount of the penalty fee for the market integrity fees is worked out as follows: (a) work out the total of: (i) all of the market integrity fees; and (ii) all of the penalty fees that have already been incurred relating to those market integrity fees; that have not been paid at the overdue time; (b) work out the number of billing periods for which one or more fees have not been paid; (c) use the following table to identify the item that relates to that total amount of the fees and the number of billing periods.

Fee for late payment

Item Column 1 Total amount of unpaid market integrity fees and penalty fees Column 2 Fee for one billing period Column 3 Fee for 2 or more billing periods

1 $0‑$10 000 $150 $250

2 $10 000‑$50 000 $300 $500

3 $50 000‑$100 000 $1 200 $2 000

4 above $100 000 $2 400 $4 000

Example: A market integrity fee becomes overdue on the first day of the billing period after it was incurred. Another fee prescribed and incurred for regulation 8 is already overdue, and has been overdue for 2 billing periods (penalty fees may be also unpaid for non‑payment of that market integrity fee). Add up all of the market integrity fees, and unpaid penalty fees, that are unpaid at the overdue time and find the item in the table that matches the total by reference to billing periods. Since a market integrity fee has been overdue for more than one billing period, use column 3 to work out the late payment fee that attaches to the total. 13 After regulation 9 Insert: 10 Transitional matters Corporations (Fees) Amendment Regulations 2013 (No. 1) (1) Despite the amendments of these Regulations made by Schedule 1 to the Corporations (Fees) Amendment Regulations 2013 (No. 1): (a) regulation 8, as in force immediately before 1 July 2013, continues to apply in relation to a fee that relates to ASIC’s performance of its functions before 1 July 2013; and (b) regulation 9, as in force immediately before 1 July 2013, continues to apply in relation to a fee (including a fee for late payment) to which that regulation applied at that time.

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